Press of Atlantic City: North Jersey State Senator Pushing For Atlantic City to be Online Gaming Host; Could Affect Gaming/Casino Stocks

If legislators succeed next week, New Jersey could a gaming host for online betting within six months.

According to the Press of Atlantic City, "The rush to change New Jersey regulations follows a Dec. 23 ruling by the U.S. Department of Justice that removes obstructions to states pursuing online gaming. Also, the state is trying to catch up to Nevada, which established its own rules for online gaming Dec. 22."

Sen. Raymond Lesniak, D-Union, a sponsor of the bill, said, “We could be the Silicon Valley of Internet gaming and it could mean billions of dollars in revenue for Atlantic City, and thousands of jobs." He continued to say, “If we have to reintroduce then in the new session, we'd lose a lot of the momentum we have now to get it done.”